For immediate release

Toronto, ON, March 14, 2016 – Over three-quarters of Canadians use online banking because it’s easy, convenient and secure. While banks are working hard to keep you protected, there are criminals out there looking to trick you into disclosing information that will help them gain access to your accounts and finances.

March is Fraud Prevention Month, and the Canadian Bankers Association (CBA) is reminding consumers how they can protect themselves when banking online.

“Banks in Canada use sophisticated technology and layers of security to help protect customers from fraud when doing their banking online or using a mobile banking app,” said Maura Drew-Lytle, Director, Media Relations and Communications at the Canadian Bankers Association. “Consumers can also do their part to stay safe while banking online by following four simple steps.”

  1. Protect your computer and mobile devices against malicious software. Install anti-virus, anti-spyware and Internet firewall tools and make sure that they are kept updated.
  2. Bcr8ive and choose secure passwords. Make sure that passwords you choose can’t be easily guessed by using a combination of upper and lower case letters and numbers. You should also never share your passwords with anyone and never write them down.
  3. Never disclose personal information. Your bank may text, email or call you from time to time, but they will never ask you to disclose your personal or financial information; they already have it. If you are unsure about any communication you receive, contact your bank using a phone number or email address that you know is legitimate. Also never send personal or financial information by email.
  4. Check your transaction history regularly. It is important to check your bank statements or transactions online regularly. If there are any suspicious transactions or transactions you didn’t make, contact your bank right away.

Watch our ‘How to Bank Safely Online’ video for more information.

Want more fraud prevention tips and resources? The CBA is issuing tips and information through Twitter (@CdnBankers) and its website throughout the month of March. You can also subscribe to our Fraud Prevention Tips.

The CBA is a member of the Fraud Prevention Forum. The Forum is comprised of a concerned group of private sector firms, consumer and volunteer groups, government agencies and law enforcement organizations, who are committed to fighting fraud aimed at consumers and businesses. Through its partners, the Forum, which is chaired by the Competition Bureau, works to prevent Canadians from becoming victims of fraud by educating them on how to "Recognize it. Reject it. Report it."

About the Canadian Bankers Association

The Canadian Bankers Association works on behalf of 59 domestic banks, foreign bank subsidiaries and foreign bank branches operating in Canada and their 280,000 employees. The CBA advocates for effective public policies that contribute to a sound, successful banking system that benefits Canadians and Canada’s economy. The Association also promotes financial literacy to help Canadians make informed financial decisions and works with banks and law enforcement to help protect customers against financial crime and promote fraud awareness.

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